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The Crash (National debt is speeding out of control with no working brakes and no one at the wheel)
National Review ^ | 02/12/2018 | Kevin Williamson

Posted on 02/12/2018 10:17:56 AM PST by SeekAndFind

I am not much one for rubbernecking at car crashes. (I’m not setting you up for a Congress joke, here. That comes later.) Most of the time they are scary but ultimately insignificant episodes involving a little property damage and a great deal of inconvenience. Sometimes they are much worse, and I couldn’t help looking at the car blazing in the middle of the freeway in the middle of the day, looking more like it had been bombed or hit with a rocket than like it had been involved in an accident. Thick black smoke covered both sides of the highway, and as the flames poured out of the doors and windows, I thought to myself that it’s a lucky thing that in real life burning cars don’t explode like they do in the movies.

Then the car exploded.

The black smoke turned white, as I am sure was the case with any number of nearby drivers and emergency workers. It looked like the worst day of somebody’s life. Either that or somebody’s every earthly problem had just been solved in a flash.

Funny thing: I’d driven the same route the day before on my way home from an insurance inspection after a minor car accident of my own. Somebody had backed into my Jeep while I was in Whole Foods buying a couple of steaks. If you have to get your car hit, get it hit in the parking lot of a Whole Foods. Those people have insurance. And smartphones, too: A nice woman saw the accident and, thinking that the other party might run off, took video of the car, its license plates, and its driver. She left me a note with her phone number and sent me the video. (An age of wonders, this is.) Nice thing to have in case the other party’s memory of the episode evolves, as sometimes happens when there’s money involved. The steaks were good.

As I write this, I can still see the smoke from the car fire, maybe a mile from here. It looks like something out of Iraq or Cleveland.

The memento mori — the daily reminder that you will die — has made a little bit of a comeback, especially in Catholic circles. Sister Theresa Aletheia, a “media nun” and prodigious communicator, has spent the past couple of hundred days with a skull on her desk. “Today, try to live in a way that you will not regret on your deathbed,” she writes. WeCroak is an app that reminds you several times a day via text: “Remember, you are going to die.” Another app calculates how long you are likely to live and begins the countdown. To become better begins with trying to become better, which begins with deciding to try, which comes only after the understanding that improvement is possible and needful. The only people without regrets are those who never lived and those whose moral sense is so dull that they don’t know enough to regret anything.

But how to go about living in a way that you will not regret on your deathbed? For many people, that means little acts of kindness and helpfulness — let’s make sure whoever owns that Jeep knows how to find the driver who hit his car — and the performance of various acts of service.

People in politics talk about “dedicating their lives to public service,” a claim at which the cynic sniffs a little. After the election of 1994, that great conservative earthquake, the majority of incoming representatives and senators earned more in Congress than they had in the private sector, the first time that was known to have been the case. Congressional salaries aren’t huge, but Paul Ryan’s $223,500 per annum is nothing to turn one’s nose up at, and the perks of high office are nice. Barack Obama does miss his airplane. And after a career in Washington, you can always go make real money — that private-plane money — later in life.

Senator Rand Paul, the fantastically bitchy Kentucky Republican, kept Washington up late Thursday night, briefly forcing a technical shutdown of the federal government while he delayed a spending bill that will add another half-trillion or so to the national debt. He wanted 15 minutes for a vote on whether to repeal spending caps agreed to a few years ago, one of the important reforms of the much maligned John Boehner, who, while the talk-radio guys were calling him a weakling and a sellout, managed to knock about $5 trillion off future projected deficits. The same talk-radio guys were celebrating Senator Paul’s theatrical maneuvers on Friday, having rediscovered the national debt only a few weeks after breathlessly celebrating a tax bill that will add $1.5 trillion to it.

Senator Paul is a politician, and to be a politician is to maneuver. He may be endlessly irritated by politics, but he is not above it. But he is also a true believer. There isn’t any question about why he is in politics. He is attempting to conduct a political career that he will not regret on his deathbed.

But one must wonder about some of the others. If politics is just a game, then it’s the most boring and pointless game ever there was. If it’s a career, it’s not that great of one: There are easier ways for a bunch of guys with law degrees and MBAs and great moral flexibility to earn $173,000 a year. There are high-school principals who make more than that. Having one’s ass kissed by Washington flunkies could not possibly be that pleasurable. Why do they do it? To fill the time? Why bother with going to Washington if not to try to do the needful things?

“The evil that men do lives after them; The good is oft interrèd with their bones.” So must it be with Mitch McConnell, Chuck Schumer, Paul Ryan, Nancy Pelosi, Donald Trump, Mike Pence, Steve Bannon, Sean Hannity, Rachel Maddow, and the lot of them, all the courtiers and jesters and sycophants. They will pass. But the debt is a memento without mori — it is immortal. Like so much else in Washington, it is speeding out of control with no working brakes and no one apparently at the wheel. As Herb Stein famously put it, “If something cannot go on forever, it will stop.”

The crash is coming.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: crash; debt; spending
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1 posted on 02/12/2018 10:17:57 AM PST by SeekAndFind
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To: SeekAndFind

But compared to the rest of the world, we are GOLDEN.


2 posted on 02/12/2018 10:21:16 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: SeekAndFind

Sadly, no one cares anymore. The politicians certainly don’t but the voters don’t either. Spending restraint has a very, very small constituency. I personally value it highly but most of the country doesn’t. So you get an article like this one every once in a while moaning about it but fiscal conservatives have not been able to advance their cause with any real reforms. The Reagan and Gingrich days were the best we had and its been down hill ever since. The way it will end will be with defaults, riots and perhaps civil war like Greece and the Third World banana republics. Hopefully I’ll be dead before it gets too bad here.


3 posted on 02/12/2018 10:23:54 AM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: SeekAndFind

Nothing gets better until we have new Senators.

Flake, Corker, Hatch, Heller, Alexander, Graham, McCain, Murkowsky, Hoeven, Rubio, Tillis, Burr, Lankford, Gardner, Cornyn, Cochran, Collins, Sasse, Kennedy, Shelby, Ernst, Blunt, McConnell, Wicker, Portman, Isakson, Johnson, Toomey, Rounds, Thune, Barasso and Enzi are all Bush League Republicans. Basically undocumented Democrats in R jerseys.


4 posted on 02/12/2018 10:24:31 AM PST by Lurkinanloomin (Natural Born Citizen Means Born Here of Citizen Parents__Know Islam, No Peace-No Islam, Know Peace)
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To: SeekAndFind

We have heard the disaster warnings many times without result.


5 posted on 02/12/2018 10:25:43 AM PST by arrogantsob (See "Chaos and Mayhem" at Amazon.com)
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To: SeekAndFind

This explains it, and remember, it is MUCH worse than when this was made:
https://www.youtube.com/watch?v=TlN28DoL5qA


6 posted on 02/12/2018 10:25:59 AM PST by robroys woman (So you're not confused, I'm male.)
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To: PeterPrinciple

“compared to the rest of the world, we are GOLDEN”

$21 trillion works out to be about $60,000 per American.


7 posted on 02/12/2018 10:26:10 AM PST by Brian Griffin
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To: SeekAndFind

This is what Bannon promised. Unlimited spending. Obama must be smiling.


8 posted on 02/12/2018 10:26:50 AM PST by nickcarraway
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To: SeekAndFind

The present economic strategy is to hope everyone else goes bankrupt before you do.


9 posted on 02/12/2018 10:27:21 AM PST by kaehurowing
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To: arrogantsob

“We have heard the disaster warnings many times without result.”

The Bank of China leadership is changing.

Their dollar “window” might get closed.

Wal-Mart would be selling mainly food and plants for about a year.


10 posted on 02/12/2018 10:29:49 AM PST by Brian Griffin
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To: Brian Griffin

$21 trillion works out to be about $60,000 per American.


With more immigrants, we can improve the situation?


11 posted on 02/12/2018 10:30:02 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: Lurkinanloomin

Nothing gets better until we have new Senators.


Nothing changes till the money runs out. How that happens is a very creative process as history shows us.


12 posted on 02/12/2018 10:31:49 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: SeekAndFind

may I suggest:

SECTION 16. No person (or their spouse or child) may be elected or otherwise placed into a Constitutional office for a subsequent term while the national debt of the United States exceeds $25 trillion.

What is key is that a Constitutional debt cap be placed.


13 posted on 02/12/2018 10:32:23 AM PST by Brian Griffin
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To: PeterPrinciple
But compared to the rest of the world, we are GOLDEN.

Yup. We can crank those printing presses up to 11 and no one will ever call us on it because they're all far worse, and can't afford our collapse.

Everything I knew about economics is apparently wrong.


14 posted on 02/12/2018 10:36:58 AM PST by Buckeye McFrog
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To: SeekAndFind

If rate of increase in wealth > rate of increase in debt = good.

Unfortunately, when the rate of increase in wealth falls, then “stimulus is needed!!!”, so the debt rises.


15 posted on 02/12/2018 10:37:10 AM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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To: Buckeye McFrog

So long as all the major players continue to play nice and pretend that all is right with the world it can go on indefinitely, provided there’s not another major shock to the system due to unforeseen circumstances. There will be, eventually. Could be soon, could be many years down the road.


16 posted on 02/12/2018 10:40:11 AM PST by RegulatorCountry
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To: Brian Griffin

Don’t understand your point.


17 posted on 02/12/2018 10:41:49 AM PST by arrogantsob (See "Chaos and Mayhem" at Amazon.com)
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To: PeterPrinciple

“With more immigrants, we can improve the situation?”

To cut the debt to $30,000 per US resident would mean 660 million people in the USA.

At long-term deficit trends we would have to import about 7 million quality people a year to keep the debt per American resident from growing nominally.

Remember too that immigrants can return home, leaving US citizens in the lurch.

The debt was growing at about $500 billion a year, 2.5% a year, about the rate of inflation, so the problem wasn’t really getting worse or better.

Whacking one-third off corporate taxation will probably have a bad impact in about two years and beyond.

New spending will make things worse too.


18 posted on 02/12/2018 10:43:07 AM PST by Brian Griffin
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To: RegulatorCountry
There will be, eventually. Could be soon, could be many years down the road

Agreed. Though it may not come in any of our lifetimes. I've quit hoping for the Grand Correction.


19 posted on 02/12/2018 10:47:00 AM PST by Buckeye McFrog
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To: Brian Griffin

“With more immigrants, we can improve the situation?”


But the math speaks for itself, you had to put on your thinking cap..........................


20 posted on 02/12/2018 10:47:34 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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